Logistics

Adani Ports hits 300 million tonne cargo mark

BL Internet Desk | | Updated on: Mar 23, 2022

Said it was on course to hit the target of handling 500 mt by 2025

Adani Ports and Special Economic Zone Ltd (APSEZ) has hit the milestone of handling 300 million tonnes (mt) of cargo across its network of 12 ports days before the fiscal year ends on March 31.

India’s largest integrated transport utility said it was on course to hit the target of handling 500 mt by 2025 and emerge as the world’s largest private ports company by 2030.

APSEZ has been continuously accelerating the time taken to increase cargo volumes. While it took 14 years to achieve 100 mt annually (with five ports in its portfolio), APSEZ doubled it to 200 mt annually (with nine ports in its portfolio) in just the next five years.

Now, with 12 ports in its portfolio, APSEZ crossed the milestone of handling 300 mt annually in just three years. The three-year journey from 200 mt to 300 mt straddles the two-year period of global economic slowdown due to the pandemic, the company said in a statement.

APSEZ has registered unprecedented growth since it started operations just over two decades ago and continues to outperform all India cargo volume growth, with its market share rising rapidly.

“The acceleration of our cargo volumes is a manifestation of our ability to continue to execute on our strategy,” said Karan Adani, CEO and Whole Time Director, APSEZ.

“Our network of ports across the Indian coastline coupled with our integrated logistics capabilities, focus on technology enabled digitised operations and, most importantly, the deep relations that we have built with our customers and partners (that include the global shipping lines), are all coming together to make APSEZ a full-fledged integrated ports and logistics platform that augments each other. We anticipate our growth to continue to accelerate given our capabilities that are now best-in-class and the tailwind of a growing Indian economy,” he said.

“This achievement also underlines the ability of APSEZ to adapt to fast paced changes due to global market and geopolitical volatility and continue its journey towards sustainable growth. We are confident of reaching our goal of 500 mt by 2025 and emerge as the world’s largest private ports company by 2030,” he added.

Published on March 23, 2022
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